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PDSB - PDS Biotechnology News Story

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Healthcare
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Market Cap £241.1m
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PDS Biotechnology Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Wed 6th January, 2021 1:30pm
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FLORHAM PARK, N.J., Jan. 06, 2021 (GLOBE NEWSWIRE) -- PDS Biotechnology
Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing
novel cancer therapies and infectious disease vaccines based on the
Company’s proprietary Versamune(®) T-cell activating technology, today
announced that the Compensation Committee of the PDS Board of Directors
approved the grant of inducement stock options covering an aggregate
of 202,800 shares of PDS Biotech’s common stock to the newly appointed
Chief Financial Officer, Seth Van Voorhees in accordance with Nasdaq Listing
Rule 5635(c)(4).

The awards were granted under PDS Biotech’s 2019 Inducement Plan, which was
adopted on June 17, 2019 and provides for the granting of equity awards to new
employees of PDS Biotech. The stock options have an exercise price
of $2.28, the closing price of PDS Biotech’s common stock on January 4,
2021. Each stock option vests over a four-year period, with one-quarter of the
shares vesting on the first anniversary of the grant date and then monthly
over the following 36 months, subject to continued employment with the company
through the applicable vesting dates.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company with a growing pipeline
of cancer immunotherapies and infectious disease vaccines based on the
Company’s proprietary Versamune® T-cell activating technology platform.
Versamune® effectively delivers disease-specific antigens for in vivo uptake
and processing, while also activating the critical type 1 interferon
immunological pathway, resulting in production of potent disease-specific
killer T-cells as well as neutralizing antibodies. PDS Biotech has engineered
multiple therapies, based on combinations of Versamune® and disease-specific
antigens, designed to train the immune system to better recognize disease
cells and effectively attack and destroy them. To learn more, please visit
www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

Forward Looking Statements

This communication contains forward-looking statements (including within the
meaning of Section 21E of the United States Securities Exchange Act of 1934,
as amended, and Section 27A of the United States Securities Act of 1933, as
amended) concerning PDS Biotechnology Corporation (the “Company”) and
other matters. These statements may discuss goals, intentions and expectations
as to future plans, trends, events, results of operations or financial
condition, or otherwise, based on current beliefs of the Company’s
management, as well as assumptions made by, and information currently
available to, management. Forward-looking statements generally include
statements that are predictive in nature and depend upon or refer to future
events or conditions, and include words such as “may,” “will,”
“should,” “would,” “expect,” “anticipate,” “plan,”
“likely,” “believe,” “estimate,” “project,” “intend,”
“forecast.” “guidance”, “outlook” and other similar expressions
among others. Forward-looking statements are based on current beliefs and
assumptions that are subject to risks and uncertainties and are not guarantees
of future performance. Actual results could differ materially from those
contained in any forward-looking statement as a result of various factors,
including, without limitation: the Company’s ability to protect its
intellectual property rights; the Company’s anticipated capital
requirements, including the Company’s anticipated cash runway and the
Company’s current expectations regarding its plans for future equity
financings; the Company’s dependence on additional financing to fund its
operations and complete the development and commercialization of its product
candidates, and the risks that raising such additional capital may restrict
the Company’s operations or require the Company to relinquish rights to the
Company’s technologies or product candidates; the Company’s limited
operating history in the Company’s current line of business, which makes it
difficult to evaluate the Company’s prospects, the Company’s business plan
or the likelihood of the Company’s successful implementation of such
business plan; the timing for the Company or its partners to initiate the
planned clinical trials for its lead asset PDS0101; the future success of such
trials; the successful implementation of the Company’s research and
development programs and collaborations, including any collaboration studies
concerning PDS0101 and the Company’s interpretation of the results and
findings of such programs and collaborations and whether such results are
sufficient to support the future success of the Company’s product
candidates; the acceptance by the market of the Company’s product
candidates, if approved; the timing of and the Company’s ability to obtain
and maintain U.S. Food and Drug Administration or other regulatory authority
approval of, or other action with respect to, the Company’s product
candidates; and other factors, including legislative, regulatory, political
and economic developments not within the Company’s control, including
unforeseen circumstances or other disruptions to normal business operations
arising from or related to COVID-19. The foregoing review of important factors
that could cause actual events to differ from expectations should not be
construed as exhaustive and should be read in conjunction with statements that
are included herein and elsewhere, including the risk factors included in the
Company’s annual and periodic reports filed with the SEC. The
forward-looking statements are made only as of the date of this press release
and, except as required by applicable law, the Company undertakes no
obligation to revise or update any forward-looking statement, or to make any
other forward-looking statements, whether as a result of new information,
future events or otherwise.

Media & Investor Relations Contact:

Deanne Randolph
PDS Biotech
Phone: +1 (908) 517-3613
Email: drandolph@pdsbiotech.com

Jacob Goldberger
CG Capital
Phone: +1 (404) 736-3841 
Email: jacob@cg.capital

 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/e2e7d124-dbd4-4140-9cc5-449d3488a902)



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